Citizens Reiterates Buy Rating on Bitdeer Technologies Group

Citizens has reiterated its buy rating for Bitdeer Technologies Group, setting a price target of $35. This update from analyst Greg P. Miller on June 24, 2026, indicates continued confidence in the company's prospects.

Bitdeer Technologies Group Stock Up 58.8%

Shares of NasdaqCM:BTDR traded around $17.23 on Wednesday. Bitdeer Technologies Group, with a market cap of about $4.24 billion, operates in the software application industry. The company's stock has seen a 52-week low of $6.92 and a high of $27.80. It has a 50-day moving average of $14.49 and a 200-day moving average of $13.77. The firm faces some financial challenges, with a forward P/E ratio that isn't meaningful due to negative earnings, and a high debt-to-equity ratio of 277.86.

Analysts Set New Price Targets

On June 24, 2026, Citizens reiterated its buy rating for Bitdeer Technologies Group with a $35 price target. Other analysts have also weighed in recently. On May 15, 2026, B. Riley Securities maintained a buy rating with a $23 target, while Cantor Fitzgerald held a hold rating with a $15 target. Rosenblatt and Needham have also maintained buy ratings with targets of $25 and $19, respectively.

Other Institutional Activity in Bitdeer Technologies Group

Several institutional investors have made moves in Bitdeer Technologies Group. Sachem Head Capital Management LP opened a new position with 9,635,000 shares valued at about $83.34 million. Fund Resources Investment Holding Group Co Ltd added 276,098 shares, increasing its holdings by 3% to 9,440,418 shares worth approximately $81.66 million. BlackRock, Inc. grew its stake by 1,036,187 shares, now holding 9,003,075 shares valued at around $77.88 million. UBS Group AG significantly increased its position by 2,340,013 shares, a 104.2% increase, totaling 4,586,394 shares worth $39.67 million. Conversely, Barclays PLC reduced its holdings by 4,612,823 shares, a 51.3% decrease, leaving it with 4,386,801 shares valued at about $37.95 million.

About Bitdeer Technologies Group

Bitdeer Technologies Group is a technology company specializing in blockchain and high-performance computing. Headquartered in Singapore, it operates internationally, providing services such as hash rate sharing and cryptocurrency mining. The company also manages mining datacenters and offers software solutions to enhance mining efficiency. Led by CEO Mr. Jihan Wu, Bitdeer employs 471 people and extends its services to various countries, including the United States, Norway, and Canada.

Bottom Line

Citizens' reaffirmation of its buy rating with a $35 target reflects ongoing optimism in Bitdeer's business model and market position. The company's recent stock activity and institutional interest highlight its relevance in the technology sector. However, investors should note that analyst ratings and targets are based on past data and market conditions, which can change.